WOOD Flash – Enerjisa Enerji: 2Q20 results review – bottom-line beat, 2020E guidance revised upwards
Yesterday (10 August), after the market closed, Enerjisa reported very solid 2Q20 results. Operational earnings were in line with both our estimates and consensus but the underlying net income figures look very strong (8% and 11% beat, respectively). Enerjisa has also announced its full-year guidance for 2020E, providing a more bullish outlook in terms of spending and underlying net income growth, which should lead to upside to our estimates from April. We expect a positive market reaction today and remain BUYers of the stock.Later today (11 August), at 18:00 local time, the company is scheduled to hold a call for investors. Join the webcast here, or dial 27; pin code: 99438306#.
Enerjisa Enerji AS is a Turkey-based company engaged in the utilities sector. The Company, together with its subsidiaries, is primarily engaged in making investments in energy companies, and deals with the generation, sale, and distribution of electricity, as well as the trade of natural gas. The Company reports its business activities into two main segments: Electricity Distribution and Retail. The Electricity distribution segment includes the transmission of electricity over lines users through distribution networks and provides infrastructure investments in conformity with the energy market regulation authority (EMRA). The Retail segment conducts mainly retail sales of electricity to customers. Enerjisa Enerji AS operates through a number of subsidiaries, such as Baskent Edas, Ayedas and Toroslar Edas, among others.
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